Breedon Group reports £46.2m in pre-tax profits for H1 2021
Breedon Group reported £46.2 million in pre-tax profits in the first six months of 2021 after weathering the Covid-19 storm.
The construction materials group had reported pre-tax losses of £10.1 million in the same period in 2020, but profits have now reached a higher level than the £39.5m in H1 2019.
The group reported revenue of £600.9 million in the first half of 2021, up from £335.3 million in the first half of 2020 and £447.4 million in the first half of 2019.
Rob Wood, CEO of Breedon Group, said: “Breedon delivered a strong trading result in the first half of 2021, building on the recovery in demand which started in the second half of last year.
“This resilient performance reflects the commitment and efforts of all our colleagues, who have each demonstrated the highest levels of enthusiasm, professionalism and flexibility in working safely across the business, despite the challenges of the past 15 months.”
He added: “This encouraging trading performance and cash generation has helped to strengthen the group’s balance sheet and we are pleased to announce our first dividend as planned, along with our commitment to a progressive dividend policy.”